In this episode, Global Head of Regulatory & Tax Aki Corsoni-Husain introduces Counsel, Thomas Dugdale, accompanied by guest expert, Executive Director, Lynden John from Waystone in the Cayman Islands. Together they answer some frequently asked questions about the new rule on corporate governance and statement of guidance issued by CIMA earlier this year.

Key takeaways:

• The Rule introduces a new material layer of corporate governance obligations in the Cayman Islands for regulated entities.
• Regulated entities must establish and maintain a corporate governance framework which provides for sound and prudent management oversight.
• Don’t do nothing! Speak to your Cayman legal or governance advisors without delay.

In this episode, Global Head of Regulatory & Tax Aki Corsoni-Husain, and guest expert Ray-Shio Ho from Reed Smith in London explore the oil and gas sanctions currently in place on Russia following the war in the Ukraine in 2022.

Key takeaways:

• Providing listeners with a round up and overview of current energy-sector related sanctions on Russia.
• Understanding whether there is global consensus on the oil price cap and whether it has achieved its objectives.
• Outlining plans for development in the offshore sanctions landscape and how they prohibit the purchase or import of Russian oil and alignment on the price cap coalition rules.
• Understanding the general attitude of offshore regulators in relation to complex corporate structures in the oil and gas sector when involving entities incorporated in their jurisdiction.
• Focussing on Gazprom as Russia’s largest gas producer and outlining the sanctions it now subject to as a group.
• Exploring what constitutes “reasonable due diligence” of structures and understanding the controlling mind or operations of the company, in particular when applying for sanctions licences.

In this episode, Global Head of Regulatory & Tax Practice Aki Corsoni-Husain, introduces Counsel Marc Piano, accompanied by guest expert Brett Hillis from Reed Smith in London. Together, they examine the role of decentralization, the relatively restrictive position the US has adopted on crypto, and explore whether Markets in Crypto-Assets Regulation (MiCA) really is all it’s cracked up to be.

Key takeaways:

• Regulatory analysis of decentralisation and whether current arrangements can be accurately defined as autonomous so as to escape regulation
• The US approach to the regulation and enforcement of digital assets and client concerns
• Exploring the framework of MiCA

In this episode, Global Head of Regulatory & Tax Practice Aki Corsoni-Husain, introduces Counsel Marc Piano, and guest expert Brett Hillis from Reed Smith in London. Together, they delve into the complex web of issues at the forefront of anyone exploring the digital asset industry.

Key takeaways:

• Trends in the digital asset space
• Global regulatory developments in respect of digital assets and the response from offshore jurisdictions
• The UK Government's recent regulatory position of digital assets and its role in the wider economy

In this episode, Global Head of Regulatory & Tax Aki Corsoni-Husain and guest expert Rachel Barnes KC of Three Raymond Buildings go into more detail about the state of play as of June 2023 regarding sanctions on Russia after the invasion of Ukraine, with a specific focus on professional services in the trust sectors.

Key Takeaways:

• Outlining and reflecting on, the new UK sanctions on Russia impacting professional and financial services, trust industry restrictions and exemptions and the Overseas Territories’ inclusion to those sanctions.
• Providing an overview of new prohibitions in providing business services and their updates.
• Comparing sanctions imposed by EU, UK, and US on the professional services industry, legal advisory services and trust industry (as at June 2023).
• Examining the impact of sanctions on transactional lawyers, particularly in relation to the provision of legal advisory services on related matters (as at June 2023).
• Discussing the rule of law concerning sanctions and their application to asset movement of designated individuals.

In this episode, Global Head of Regulatory & Tax Aki Corsoni-Husain and guest expert Rachel Barnes KC of Three Raymonds Building provide and overview on the state of play as of June 2023 regarding sanctions on Russia after the invasion of Ukraine.

Key takeaways:

• Providing an update and overview of current key trends in sanctions on Russia and the direction of travel at nearly 18 months following the invasion of Ukraine.
• Looking at the change to the landscape of sanctions in the wider legal industry and the pervasive impact it now causes when conducting most international commercial activity.
• Examining what the authorities have got right, and also what could have been done more effectively, in particular in terms of the complexity of three distinct sanctions regimes: in the US, UK and EU.
• Looking at enforcement initiatives in the US, UK and EU member states – also focusing on Cyprus and the UK Overseas Territories.
• Giving a run down of key sanctions cases before the courts.

In this episode, Head of Regulatory Aki Corsoni-Husain and guest expert Mythily Katsaris of Fladgate LLP look at the complex relationship between India and offshore jurisdictions, including the British Virgin Islands. Together they discuss when things go wrong, in other words when stakeholders are faced with investigations or enquiries from competent authorities based locally or overseas and understanding what rights and obligations may be. This is part two of our two-part podcast within Expert Review looking at India.

Key takeaways

• What should functionaries do when faced with a demand from an authority?
• What sort of things do authorities request and why?
• Tips for coordinating investigations with little oversight of activities abroad.
• Differences between the authorities handling of investigations?
• What is the status of the BVI’s commitment to public UBO registers?
• Overview of the most recent judgment in the CJ EU.

In this episode, Head of Regulatory Aki Corsoni-Husain introduces Associate Kartik Sharma, and guest expert Ravi S. Raghavan of Majmudar & Partners. Together they discuss the complex relationship between India, Cyprus, and the offshore jurisdictions focussing on considerations that all stakeholders should bear in mind when setting structures up. This is part one of a two-part podcast within Expert Review looking at India.

Key takeaways

• Understanding recent developments in India impacting foreign direct investment (FDI) – including looking at restricted sectors. Focussing on whether the use of companies based in offshore and ‘mid-shore’ jurisdictions actually helps with FDI when structuring transactions – and if so, how.
• Exploring whether there continues to be any tax "benefit" to structuring through treaty countries such as Cyprus – following the ongoing revisions by India to prevent abuse – and Indian attempts to severely restrict double non-taxation wherever possible.
• Looking at similarities between India and Cyprus in terms of their common law, and contract law, heritage – as well as the perennial ease of use of offshore companies based in the BVI and Cayman Islands and their continued popularity as holding vehicles.
• Finally, an examination of the preferred treatment of Cypriot funds by the Securities and Exchange Board of India (SEBI) as of 2021.